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Loose Canons
Beware of ‘If-Then’ Budget Deals
The tax increases tend to happen while the spending cuts don’t.
From last week’s events it’s fair to conclude that President Obama and congressional Democrats are willing to risk default on America’s debts in order to get tax increases.
On August 2 the government will run out of borrowed money, all $14 trillion of it. And — despite what you heard from a few idiots posing as “constitutional scholars” last week — under the 14th Amendment the president can’t borrow more unless congress authorizes it.
So negotiations have gone on for months, in the Senate Gang of Six, the Biden-led talks and several White House meetings, all to no avail. The reason there has been no success is that the Democrats want $2 in tax hikes for every dollar in reduced spending and they want to delay the spending cuts so they don’t take effect until a future date (before which they can renege on the deal and restore the cuts).
On July 5, playing the role of a marriage counselor, President Obama urged “both sides” to get out of their “comfort zones” to reach a debt ceiling deal. It was classic Obama: posing publicly as the disinterested arbiter urging compromise while privately making irreconcilable demands for tax hikes.
In June, after a disappointing May unemployment report, Obama said, “There are always going to be bumps on the road to recovery.” Last Friday, he ran into a bigger bump in the latest unemployment report. It showed that the supposed economic recovery has stalled.
Fully 9.2 percent of Americans — over 14 million — are unemployed, an increase of about 545,000 since March. (The 9.2 percent is misleadingly small given the fact that another 252,000 Americans had given up looking for a job and weren’t counted among the unemployed.)
It was the 29th straight month in which unemployment was over 8 percent, the longest period of unemployment that high since the 1930s. One big reason the report wasn’t worse is that the Federal Reserve — by pumping newly-printed money into the economy — has lubricated the job market with free-flowing money. But the “quantitative easing” program has come to an end. The Obama administration - by pumping some of the Strategic Petroleum Reserve oil into the commercial system - is unleashing a back-door ‘stimulus’ which is also holding inflation down.
After the unemployment figures were released, Obama gave a speech in which he blamed the stalled economy on the Japanese tsunami, the Greek economy and everything except his spending spree.
Also on Friday, Senate Budget Committee Chairman Kent Conrad (D-ND) briefed Obama on his secret budget plan endorsed by a majority of Senate Dems. It called for $2 trillion in tax hikes and $900 billion cuts in the Pentagon budget, both over the next decade, and made no cuts to entitlements.
The transparency of Conrad’s ploy is such that only the media will fall for it. Last December the Democrat-controlled Senate voted down a bill to raise taxes on people earning over $250,000 a year. On May 17, it failed to pass a bill to cut oil companies’ tax breaks and on June 14, it voted down a bill to end ethanol tax subsidies. Conrad can’t get Democrats to vote for tax hikes, so why does he think Republicans will be dumb enough to bail him out?
Democrat desperation for tax hikes — and refusal to make big cuts in federal spending — is plain in the statements of other Dem leaders. Senate Majority Leader Harry Reid (D-NV) said cuts in Social Security were “off the table.” And, as Senate Minority Leader Mitch McConnell (R-KY) said on Fox News Sunday,”…the White House and congressional Democrats are insisting on big tax increases as a condition to do anything on the spending side.”
What comes next? Two things. There will be a last-minute deal to raise the federal debt ceiling in the short term. And — because the Fed has stopped pumping money into the system — inflation will quickly become a growing problem.
Remember “stagflation”? A stagnant economy burdened with inflation produced “stagflation” in the Ford and Carter years. You heard it here first: unless the deal raising the federal debt ceiling includes massive spending cuts — including a reduction of the entitlement programs — stagflation will be back before year’s end.
There’s an obstacle that Republicans have to overcome: they need
— at all costs - to avoid an “if-then” deal.
It’s the classic Washington deal that Republicans have fallen prey
to so often. The “if-then” deal is made when Republicans agree to a
compromise now in return for which the Democrats promise later
action on their half of the compromise.
Circumstances change, deals are reneged on, campaign imperatives
intervene, and “later” never comes.
The only way to make a deal is to have all elements of the deal
legislated together to become effective at the same time. If
Republicans don’t do this, they’ll betray every voter who chose a
Republican candidate last year, and may well doom those Republicans
- and more — next year.
About the Author
Jed Babbin served as a Deputy Undersecretary of Defense under George H.W. Bush. He is the author of several bestselling books including Inside the Asylum and In the Words of Our Enemies. You can follow him on Twitter @jedbabbin.
Letter to the Editor View all comments (118) | Leave a comment
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Von Mises Jr.| 7.11.11 @ 6:57AM
Excellent analysis except that QE2 and other money printing causes inflation, and to stop QE2 will increase the value of the dollar. The money supply has virually tripled, and the only reason inflation is not worse is that banks won't lend and people won't spend. If this occurs, there must be a mad dash to reduce the money supply, or hyper-inflation will ensue.
The government also touts about 3% inflation. But this excludes gas that has doubled and food prices that have increased dramatically, while substituting housing that has fallen. it is another statistical lie. Inflation is closer to 8-10%. Ask any housewife sho paid $3 for a gallon of milk that now costs $3.29 in Jersey. Brisket went from $4.50 to $5.50 within a year.
Grzmlyk| 7.11.11 @ 8:36AM
Bingo.
Also, Reagan and Bush 1 fell for the old "if-then" bait-and-switch.
The ONLY way the government's going to get out from under this debt is default by debauching the currency. Which has begun in earnest.
And the deflation they feared so much - don't you just hate it when prices go down and you have more money in your wallet? - could well become hyperinflation - which, ironically, is a form of deflation (i.e., nominal prices rise even as adjusted prices fall).
In the end, they won't have their cake and they won't be able to eat it either.
But we all know George Bush's fault.
In truth, Bush is one of many who lit the kindling; Obama has thrown gasoline on the fire.
Lullabys, Legends and Lies| 7.11.11 @ 9:02AM
Put another log on the fire,
Cook me up some bacon and some beans,
Go out to the car, jack it up, and change the tire,
Wash my socks and sew my old blue jeans,
Come on baby you can fill my pipe and then go fetch my slippers,
Then boil me up another pot of tea,
Then put another log on the fire babe,
And then come and tell me why we shouldn't raise taxes of the Evil Rich Corporations.
Waylon Obama
Grzmlyk| 7.11.11 @ 10:00AM
Very good!
I never understand why our side doesn't point out that corporations don't pay taxes - their customers do.
But there is much I don't understand about how docile our side is.
Bill Hussein O'Stalin| 7.11.11 @ 1:40PM
Here's a clip from the Wall Street Journal about how Obama has plenty of tax increases already built into our collective futures. It shows that further tax increases are not needed, at least not now. That also indicates that Obama is playing his typical rope-a-dope.
http://online.wsj.com/article/.....stpop_read
Keep in mind that Mr. Obama has already signed the largest tax increase since 1993. While everyone focuses on the Bush tax rates that expire after 2012, other tax increases are already set to hit the economy thanks to the 2010 Affordable Care Act. As a refresher, here's a non-exhaustive list of ObamaCare's tax increases:
• Starting in 2013, the bill adds an additional 0.9% to the 2.9% Medicare tax for singles who earn more than $200,000 and couples making more than $250,000.
• For first time, the bill also applies Medicare's 2.9% payroll tax rate to investment income, including dividends, interest income and capital gains. Added to the 0.9% payroll surcharge, that means a 3.8-percentage point tax hike on "the rich." Oh, and these new taxes aren't indexed for inflation, so many middle-class families will soon be considered rich and pay the surcharge as their incomes rise past $250,000 due to tax-bracket creep. Remember how the Alternative Minimum Tax was supposed to apply only to a handful of millionaires?
Taxpayer cost over 10 years: $210 billion.
• Also starting in 2013 is a 2.3% excise tax on medical device manufacturers and importers. That's estimated to raise $20 billion.
• Already underway this year is the new annual fee on "branded" drug makers and importers, which will raise $27 billion.
• Another $15.2 billion will come from raising the floor on allowable medical deductions to 10% of adjusted gross income from 7.5%.
• Starting in 2018, the bill imposes a whopping 40% "excise tax" on high-cost health insurance plans. Though it only applies to two years in the 2010-2019 window of ObamaCare's original budget score, this tax would still raise $32 billion—and much more in future years.
• And don't forget a new annual fee on health insurance providers starting in 2014 and estimated to raise $60 billion. This tax, like many others on this list, will be passed along to consumers in higher health-care costs.
There are numerous other new taxes in the bill, all adding up to some $438 billion in new revenue over 10 years. But even that is understated because by 2019 the annual revenue increase is nearly $90 billion, or $900 billion in the 10 years after that. Yet Mr. Obama wants to add another $1 trillion in new taxes on top of this.
Doug| 7.11.11 @ 6:59PM
Sorry, but that's a Shel Silverstein composition, sent to fame when recorded by Tompall Glaser in 1975. AKA "the male chauvinist national anthem."
Timothy L. Pennell| 7.11.11 @ 7:05AM
Let it CRASH.
We are where we are, because that's where they want us. When do we turn it around? When do we STOP spending more than we have?
Every Drug Addict (which I was one, for 25 Years) knows that you have to hit ROCK BOTTOM. Lose your Business. Lose your Home. Lose your Friends and your Family. And, then, you either make the choice to take back your life, or you end up DEAD.
We don't need any more REVENUE. We need to cut up the Credit Card. We need to get back to a LIMITED GOVERNMENT. This is not what was put in place for us, by our Founding Fathers. This is what we fought AGAINST, in our Revolution.
No Taxation without Representation. Why are all these things happening in SECRET? Why is so much in this TRANSPARENT Administration, done behind CLOSED DOORS? Why has the Most Deliberate Body in the world, not FOLLOWED THE LAW, and produced a BUDGET, in over 2 YEARS?
There's a MARXIST in the White House. Marxism, Socialism, Communism, Maoism. Anarchy, ISLAM. They are all in his DNA. From his Parents, to his Grandparents. From Indonesia, to the living room of Bill Ayers and Bernadine Dohrn. From Frank Marshall Davis and Jeremiah Wright, to Louis Farrakhan and Al Sharpton.
We're in this position ON PURPOSE.
You can't Fundamentally CHANGE something, without tearing down what is already in place. You can't Nation Build, til the old one is TORN DOWN. Tell me how Obama is any different than CHAVEZ. How, we're any different from Venezuela.
He protects the VERY RICH, because he needs them, and they want to keep their money.
He pretends to champion the Poor, because they have little, and will give their support to he who gives them more.
Both groups are easily CONTROLLED by the Dictator.
So, who takes it on the chin? The Middle Class. They are neither Rich nor Poor. And they THINK FOR THEMSELVES. And that is a DANGEROUS thing, for any of the "isms". Which is why there never is a Middle Class, in the lands of "isms".
He knows what he's doing. It's in his DNA. It's time to draw a line in the sand, and say, NOT ANOTHER PENNY.
Or we're through.
Mimi| 7.11.11 @ 7:28AM
Well TIM, You sure didn't DANCE around the PIN !! Thank God for your recovery....your POSTS are always BOLD & HONEST......Our FEARS and worries for our country always are captured by them....THANKS !!
WalkingHorse| 7.11.11 @ 7:33AM
Remember your Lenin: "the way to crush the Bohr Elsie is to grind them between the millstones of taxation and inflation."
The thing Lenin missed was the additional millstone of regulation, which can be thought of as another way to tax people with mindless, wasteful, busy work and stupid restrictions upon personal autonomy.
No matter how you cut it, we are witnessing the imposition of a totalitarian regime. But most wish to avert their eyes from the reality and pretend the players are still just doing politics as usual. Suckers..
Walking Horse| 7.11.11 @ 7:55AM
"Bourgeoisie", not "Bohr Elsie" .. damned annoying iPad spell checker is illiterate.
Alert1201| 7.11.11 @ 8:05AM
Thanks for the correction. Was just getting ready to google Bohr Elsie.
Anthony| 7.11.11 @ 2:57PM
You know, I thought I ordered Bohr Elsie last night for dinner. Very tasty.
buckeyeman| 7.11.11 @ 1:26PM
I'm convince the guy who created that "damned annoying iPad spell checker" was a democrat.
HSmith| 7.11.11 @ 2:02PM
If he works for Apple, it's a given he's a Democrat.
SpiralArchitect| 7.11.11 @ 4:15PM
Dimocrat
Doug| 7.11.11 @ 7:02PM
Hey! This is one Apple employee who is NOT of the same stupid political persuasion as our beloved CEO!
Occam's Tool| 7.11.11 @ 7:56PM
Much apologies Doug! Have you seen the Microsoft Deathstar in the Weekly Standard?
chuck| 7.11.11 @ 7:47AM
Great post, Timothy! Time to starve the beast. You can't buy your way out of this problem. The stimulus, and the huge budget increases didn't work, because Keynesian economics DOES NOT WORK! I defy anyone to show me where this crap has worked just once. Come on you libs, show me! It is time to let this crap collapse, endure the pain short term, and start to rebuild. If those idiots in Washington, including way too many Republicans, had just allowed the economy to go through its natural downturn, and had allowed some of the big banks to fail, like they should have, this economy would be in better shape already. But instead, they threw good money(taken from strong businesses, and borrowed at our future expense) after bad.
NOT ONE DIME MORE!
JayDick| 7.11.11 @ 4:14PM
Keynesian stimulus measures are like sugar. They provide a short boost, then you crash. Obama said as much in the press conference this morning. He said the effects of his stimulus package had worn off and that's why unemployment is up. That seems like a pretty poor stimulus if it lasts no longer than that.
In my 50 years of observing government, I have seen only a few things that stimulate the economy: restrained government spending, broad permanent tax cuts, and dramatically reduced government meddling in the economy. The best other measures can manage is a very brief boost with bad long-term effects.
Mike D.| 7.11.11 @ 8:38AM
The insanity of the whole situation is we are in the position of expecting.....nah, hoping that the people who put us in this situation in the first place are somehow going to FIX what they are destroying at the same time. So we should be satisfied by them just SLOWING DOWN the rate of destruction as a compromise. Yes Sir, that has the high probability of success. The people(if there are enough who still care) will save this country, or they won't. The current situation historically requires a large life effecting disaster or crisis to effect that big of a course change as it did in 1861. I fear thats what the situation requires here.
Walking Horse| 7.11.11 @ 9:11AM
Emphatically agree. We got to this point by assuming the political class would work all this out, on the childlike theory that the political class is working tirelessly for the public good.
Anyone who continues to believe that fairy tale or employs the vote as a mechanism to augment her income should be barred from the polls in 2012.
Politics is what got us into this black hole. There is no reason to think that the same people who facilitated this calamity are the people who can prevent it from becoming a cultural and economic catastrophe.
Ned| 7.11.11 @ 10:59AM
The insanity is that there are still a substantial number of people who support the SOB and his morons... er, "minions"...
darcy| 7.11.11 @ 7:17PM
Insanity: Continuing to do the same thing and expecting a different result.
The GOP is useless. If Boehner does not have the balls of Nancy Pelosi to rally his caucus and BLOCK Obama's DEMAND to increase the debt ceiling, then the GOP is history -- and I will say good-riddance to it. What has it done these past 70 years to reverse the "progressive" agenda????
NOTHING. Instead, it has voiced token resistance and then gone along with every major statist program, more concerned with currying favor with the NYT than with its constituency back home; more concerned with being liked than with being true to the Constitution; more concerned to reap personal benefit than to honor the sacrifice of the millions of men (and some women) who gave their lives to perpetuate our Founding freedoms.
The GOP -- THEY DISGUST ME.
The time is short. Boehner can either draw a line in the sand NOW or be remembered as the man who drove in the last nail of America's coffin.
Delta Zelda| 7.11.11 @ 11:08AM
Amen!!!!
Occam's Tool| 7.11.11 @ 7:34PM
G-d Bless, Tim.
Myself, I say make no deals with socialists or terrorists, foreign or domestic.
Deleo Sharia Lex.
Reagan Loyalist| 7.12.11 @ 12:25PM
As hard as it is, or better sais; as harsh as it is, one of the major precepts of capitalism and failure. If your idea doesn't work, failure drive innovation, the need to survive - indeed the NEED to survive requires er-invention. If the R's on the Hill can't succeed in facing down this last effort to push the US into communism we need to crash, burn and rebuild. I believe in the American will to succeed so therefore I chose to believe we will win this battle.
Melvin| 7.11.11 @ 7:11AM
Brother Timothy, just make sure that you are getting prepared for yourself and your family. My son came to visit this weekend from Virginia. Where he works is a Pizza joint owned by two thirty somethings, and they are all talking the same thing that we are talking here on American Spectator. So the word is spreading, your line of thinking is prophetic, just hang on brother, it''' be here soon enough, and do what you can to stay on top of the wave.
Walking Horse| 7.11.11 @ 8:02AM
Quite so. Far too many are still in thrall of the "normalcy bias".
http://westernrifleshooters.wordpress.com
http://survivalblog.com/
'nuff said.
Louis Jenkins| 7.11.11 @ 1:20PM
Both are good. Good choices Walking Horse.
JP| 7.11.11 @ 7:19AM
But taxes are already going up. Everyone seems to forget ObamaCare. Medicare payroll taxes will go up 2.9%; and for the first time, Medicare will tax capital gains and dividend income (2.9% as well). Taxes on medical devices, medicnes, tanning salons, etc... will kick in this year or next.
And, the Bush Tax Cuts are fixed to expire 1 Jan 2013. Obama promised this to his base earlier this year. And even if the GOP re-take the Senate, all Obama has to do (if he is re-elected) is to veto any extensions. And viola, over $1 trillion of tax increases.
Chris| 7.11.11 @ 7:51AM
Taxes are going up - because we are printing money. When we eventually get raises, we will have less buying power while getting inflated into higher marginal rates and the AMT.
kalashnikat| 7.11.11 @ 1:19PM
Inflation moves the middle class into the upper income tax bracket...that's raising taxes, pure and sneaky.
marxfreesociety| 7.11.11 @ 1:46PM
Further on Obamacare as a tax - 3% tax when you sell your home on any amount of sale above the original purchase price of the home. You bought a $100K home 10 years ago and you sell it for $200K, $100K "profit" taxed at 3% or $3k directly into the black hole of Obamacare. This, plus the reversal of interest deductions and increasing interest rates due to inflation will literally put the final nail in the US housing market's coffin!
Mike 3/505| 7.11.11 @ 4:09PM
I will not pay this. I will fight it first. One thing we can all do, in accordance with our tradition, is civil disobedience.
martin j smith| 7.11.11 @ 7:38AM
NO ' IF THEN INSTEAD EITHER 'IF THEN IF' or much better ' THIS NOW FOR THIS NOW".
I think the 9.2% unemployment statistic ( which is much lower than reality ) made it easier for Boehner an the rest to say NO to Obama. It is quite obvious that pushing for higher taxes now would be fatal. But then again, this is what the SOCIALISTS wanted all along is that ot true ?
Mimi| 7.11.11 @ 7:48AM
The ruination and destrution of our country is going on, right before our eyes....how much longer can we take it? We are trying to DEAL with dishonest players in a late night POKER game !
It's TIME to shed some BRIGHT lights on the GAMES going on at the TABLE ! Open up the deliberations so the PEOPLE know exactely what is going on....Get the DEALS on film...It's OUR country...your WORKING for us. Take your TAXES idea and put it on HOLD til you get the country HEALED....YOU FOOLS! When the DUST settles...YOU WILL spend as you go....plan on it....Chose to do it NOW or wait for the demands of the IMF!!!
Maddox| 7.11.11 @ 11:51AM
Amen Mimi! Where is the transparency from the "most transparent administration evvah?" Republicans should be asking this question on the nightly news while presenting the facts and educating those so gullible they believe Obama wants to cut the deficit.
Die Fledermaus| 7.11.11 @ 5:34PM
You watch, Boehner will cave some how. He's a spineless coward and proven crybaby.
If the GOP falls, again, for the lies of Dems then to hell with them all. Throw them all out.
Dixie Pixie| 7.11.11 @ 9:26PM
Good news Die.
Boehner and the rest of the Republicans walked.
Obama was visibly upset at getting nothing except coming days closer to the Aug 2 deadline.
Anthony| 7.11.11 @ 7:48AM
Even our empty suit president with a Harvard law degree, and renoun lecturer at the Univ. of Chicago law school in Constitutional law, figured out the 14th Amendment gives the
Muslim Marxist NO power to raise the debt ceiling without Cogressional approval.
So it's back to doing what Ds do best, lie like hell, denegrate the Rs, and hope Boehner and the boys cave. Oh yeah, and continue and double down on the same failed fiscal policies.
Stupid is as stupid does!!!
What an absolute mess, brought to America by generations of worthess political whores, with our help, unfortunately.
Little Timmy, the tax cheat, tells us it's gonna hurt for a long time. One can only hope we Americans finally wake the hell up and start kicking these pols in the ass, so that it'll hurt for a long time as well!!!
Take back America!!!
Bill Hussein O'Stalin| 7.11.11 @ 7:53AM
Look at this chart in the link and the article. It shows clearly that for the last 40 years there has been a slide in the return on government spending, now returning a negative 50 cents on the dollar.
It's a fascinating article and shows that our debt masters are leading us over the edge of a precipice.
http://financialminorityreport.....y-of-debt/
From the article:
I view it as confirmatory (in our unique circumstances) that we have ‘hit The Wall’ with the amount of debt that the economy can carry (debt saturation). Politicians and policy makers have been able to keep the game going by continually and incrementally debauching lending standards.
Think about it this way. A large reason why we have emerged from every postwar recession and renewed the credit cycle to grow to ever greater heights is because the policy response has been to allow, nay, promote the decay of lending standards.
axbucxdu| 7.11.11 @ 1:47PM
Anyone who has had to manage a REAL balance sheet knows this by instinct. Too bad that the corresponding economic consequences to Hoover's/FDR's efforts to arrest the Great Depression were masked by the underlying productivity of the U.S. economy of the time. In essence the progs could get way with their economic experiments using their newfangled Keynesian nonsense. Back then they could do so without completely destroying the economy because that system was still robust and energetic enough to absorb the abuse. Wrongly encouraged by the "results" of those actions the moralizing prog began to believe in, and preach the merits of, the (unachievable) Free Lunch.
Were public AND private debt as saturated as it is now, Keynes would never have been such a legend in the progressive mind.
Yet ALL debts must be paid. Time for Austrians at heart everywhere to repeat this phrase, and loudly.
POST American| 7.11.11 @ 8:06AM
-----That 1.4 quadrilion in FAKE derivatives debt
------The exact whereabouts of the 'Banker Bailout' theft
-----Auditing, dismantling and prosecuting the
deadly sinister utra rich TAX FREE foundations
and ILLEGAL, Constitution violating 'Federal'
Reserve
-------The genesis, legacy and present status
of the 4 decades long Globalist RED China
sellout and TREASON op ----also accompanied
by unflinching prosecution
-----the RETRO-active impeachment of our last
4 RIIA/CFR Tavistock front op administrations
THESE ARE THE ISSUES
Enough with these chicken feed side shows!
Stuart Koehl| 7.11.11 @ 8:32AM
I do wish that people with nothing to say would say it in complete sentences using proper punctuation and without excessive use of capitalization for punctuation. It simply makes them look much more ignorant than they are, and leads one to suspect they are not taking their medication.
Maddox| 7.11.11 @ 11:44AM
I understand what Post American meant. The American people have been scammed and those who perpetrated the scam are politicians who have protected their benefactors and friends while setting up laws and regulation that allow them to steal even more. Where is the money? Who spent it and when are they going to jail? Without the answers to these questions and proper justice, this isn't America anymore!
Mimi| 7.11.11 @ 11:53AM
It's called creative writing....as if the communication is not writing perfect but talking and shareing emotions while offering OPINIONS!
Stuart Koehl| 7.11.11 @ 3:39PM
Someone may call it creative writing. I simply call it illiterate. That goes . . . for people. . . who do not KNOW. . . the proper use of ELIPSES (. . .).
Mimi| 7.12.11 @ 7:21AM
To insult, is that PROPER?
chuck| 7.11.11 @ 2:43PM
I think DeeSee has come back with a new name.
Occam's Tool| 7.11.11 @ 7:37PM
Dear Stuart:
I can only do so much...they must come to me, or be brought by the police...and the depot (long acting) antipsychotics are so expensive now that there is a nationwide shortage of Prolixin Decanoate....;)
Occam's Tool| 7.11.11 @ 7:41PM
Dear Stuart: I did not realize that you had a post about the use of ellipses after the one about medication.
No offense was intended, sir. "Do what you wish with this old gray head, but spare my country's flag, he said." (Yeah, I know it was a "she.")
However, I think I did OK with the ellipses, given that it was for comic effect and the image I was trying to convey was Marty Feldman's Igor.
Stuart Koehl| 7.11.11 @ 7:52PM
I can do something about that hump.
Occam's Tool| 7.11.11 @ 7:54PM
It keeps moving back and forth.
tsd| 7.11.11 @ 8:08AM
Can you hear the grinding of metal on metal as the brakes on the our government spending machine are about to explode. If we do not stop it now and the crazy people behind the wheel keep they're foot on the spending pedal we will experience the real high speed crash they seem to be pushing for. We need to stop the bus and get the crazy people out from behind the wheel.
martin j smith| 7.11.11 @ 8:08AM
One side or the other will have to surrender--and it better NOT BE OURS. There are two diametrically opposed goals for our nation--One to Re-build the other To destroy. But many in the media even those on FOX news and the WSJ would have us believe that a "compromise" is possible. I do not think so at all. In the end it will the voters who decide. But, Repubs and all who would like them to succeed better be ready for the worst campaign in the 20th and 21st centuries and possible even in the 19th.
William L. Gensert| 7.11.11 @ 8:10AM
Citing the intransigence of the Republican Party and the will of the people, on August 2nd, Barack Obama will unilaterally extend the debt ceiling using the authority he will claim the 14th Amendment grants him. At that point, he will become king.
Skippy| 7.11.11 @ 7:03PM
And only three pitchfork and torch shopping days left until Bastille Day!
CharlieEcho| 7.11.11 @ 8:10AM
The "Speaker" has agreed to let the tax cuts expire, but was put in his place. ABC this morning is spreading fears if no deal is reached. The Sky is Falling. Obam will speak today in a news conference. Durbin is speaking now and blaming the Speaker and Cantor. Durbin is a tool. Durbin is seaking a two step deal and he wants the GOP to take the first step. That give the fears time to grow in the minds of "the people".
Alky| 7.11.11 @ 11:06AM
The sky will certainly fall if they extend that maniac's credit limit.
Would you give your teenager a credit card and keep raising the limit every time they maxed it out?
What's going on in Washington would be funny if it weren't so scary.
POST American| 7.11.11 @ 8:22AM
BTW ----speaking of things valuable
AGAIN, our sources in Canada report there's
some sweeping UN mandate on the libraries
to clean house and make room for more important
things ike coffee lounges. This is worldwide.
Seems they're dumping tens of thousands of
history books --esp. targeted are those printed
pre 1910 when, certainly in Brtain, the Freemason
strangle hold on records began asserting itself.
Even Churchill himself noted and complained
about this at the time.
Anyway, scavange the dumps and flea markets and rescue
what you can as the Globalist TREASON
op seeks to hide the scandal of its triumph
----once again...
Stuart Koehl| 7.11.11 @ 8:33AM
See what I mean?
Maddox| 7.11.11 @ 11:46AM
Yes, maybe so.
Stuart Koehl| 7.11.11 @ 8:29AM
Not to unlike those "land for peace" deals the U.S. and the West keep foisting on Israel: the Israelis give up something tangible (land) now in return for something intangible (peace) at some point in the future.
In this case, the Republicans give us something tangible (tax increases) now for something intangible (budget cuts) at some point in the future.
It's kind of like Charlie Brown and the football: Charlie Brown wants to kick the football. Lucy offers to hold it for him. Charlie Brown says Lucy will pull the football away at the last moment. Lucy promises this time will be different. Charlie Brown rushes at the football. Lucy pulls it away.
Need another analogy: "Of course I'll still respect you in the morning".
JP| 7.11.11 @ 9:54AM
Stuart,
The entire debt cieling debate is out of control. All of a sudden we're talking about budget cuts in 2020, which are niether binding nor relavant; and on the other side of the aisle, the opposition is not only demanding a $2 trillion increase to the debt cieling, but they are also demanding a $1 trillion increase in taxes (the details, of course, as secret).
And all of this "negociating" is done against a backdrop where there hasn't been a federal budget in 800 days. We have no idea where the money is going. All we know is that the federal spending baseline went from $3 trillion in 2008 to almost $4 trillion in 2011.
The President is winning on this issue in that he and his party have made permanent the new spending baselines. There appears to be little political appetite to roll back spending to FY 2007 or 2008 levels. This is of course is the real news. Despite the presence of the Teaparty -esp in the House, the GOP is not even talking about spending rollbacks. Departments like the EPA, IRS, Dept of Energy, Dept of Education, and HHS all saw thier budgets increase over 125% since FY 2008. If we are talking about making up the short term short-falls in order to service the interest on our debt, reductions in these departments would do the trick without having to raise the cieling. There is no need for the House GOP to get side tracked about reforming SS, Medicare, and Medicaid. Rep. Ryan and Boehnner are just falling into a trap. Now, the President can muddy the waters even more. Like Dec 2010, the WH is playing the GOP for suckers.
What a mess.
Conservative Bob| 7.11.11 @ 11:39AM
I think the president's ratio on taxes and spending cuts (3 dollars of cuts for one dollar of tax increase) should also be extended to the if than portion as well. Such that for every year of delay in the spending cuts the imposition of tax increases shoudl be delayed by 3 years.
Then spending cuts imposed in 2020 will be offset by tax increases in 2038.
This whole dance is a farse.
A spending cut anytime other than the next fiscal year budget means less than nothing.
One congress can not bind another.
The Dems want/need the debt ceiling to raise. The price is cuts to next years budget, period.
Die Fledermaus| 7.11.11 @ 5:38PM
It's worse. Lucy is the Dems in Congress and Boehner is Charlie Brown.
After he continues to fall for Lucy's tricks he then trots up to the White House thinking, again, he can deal with the Kite-Eating Tree.
Occam's Tool| 7.11.11 @ 7:51PM
That's the polite analogy, of course, Stuart.
Here's what I'm thinking. We are in a nasty battle for supremacy with Political Islam (yeah, I'm aware that the majority of Muslims care about their bellies rather than politics, as the minority of Germans voted in Hitler. Nonetheless, the nulls would work for a Caliphate and do nothing to stop it, so they're not so innocent.) and the West. Political Islam has birthrate on their side and a strong belief system; the West has military strength with questionable will and declining birthrates.
The Political Islam birthrate advantage will not last forever; nor will their ability to pacify their masses with money for idleness forever. Sometime this Century there will be a significant clash of arms that will dwarf what we've seen before. Don't know when. I predicate my personal interest to cease to matter around 2040. I conceive of the clash occuring when it will matter most to me sometime in the next 15 years.
I expect Europe to suffer much more than we do, given their already advanced age and much worse demographics.
That's the basic world background assessment in which I invest my small mite. I really like your stuff.
Clint| 7.11.11 @ 8:47AM
Dr.Ron Paul,
“Sources in Washington tell me that House Republican Speaker John Boehner is considering a deal to raise taxes as part of a debt limit ‘deal.’
“In fact, reports are they may be ready to cave in to Barack Obama’s demands for a trillion dollars in tax increases in exchange for mostly phony spending and tax cuts in order to raise the debt ceiling.
“House Republicans would be foolish to go for this ploy and be taken in by the Obama administration, only to leave American taxpayers on the hook again for more out-of-control government spending.
“The Democrats pulled a similar maneuver during Ronald Reagan’s presidency, a deal that promised 2 to 1 spending cuts in exchange for tax increases. Taxes went up, but the cuts never came. They did it again in 1990, promising much the same deal, and delivering only on their tax increases.
“In Washington, if you hear about a so-called deal, you can be sure the taxes will come, but the cuts never will.
“Republicans cannot take the bait and get fooled again.
“This is exactly why I was the first Presidential candidate to sign on to the Cut, Cap, and Balance Pledge — because we cannot continue to steer our country down this road to ruin with massive a federal budget and unchecked spending. We need to change course right now.
“Agreeing to this scheme by the White House would be a betrayal of the voters who put Republicans back in charge of the House in 2010.
“Those in Congress who agree must stand firm and not give in to Obama and the big-spending Washington crowd.
“I will stand with the people, and urge leadership to do the same and fight against raising taxes, no matter what.”
The Tea Party Rebellion Escalates.
Carpe Diem.
Ken in Tyler| 7.11.11 @ 9:42AM
Don't forget about the, "Give the ones already here amnesty and we will fix the immigration problem and secure the border" tripe Reagan swallowed as well.
Will we never learn?
Michael L. Hauschild| 7.11.11 @ 8:53AM
Babbin offers up another “Preaching to the Choir” article, trouble is his “choir” is the beltway elite, not those of us being led by Bachmann within and Palin without. I just listened to McConnell in a pre-meeting interview. He said, “No one here on capitol hill is against raising the debt ceiling.” Let me state that again, “NOT A PERSON ON CAPITAL HILL IS AGAINST RAISING THE DEBT CEILING.” Brett Bayer (?) quoted to him Michele Bachmann, stating her opposition to raising this limit, and all he did was laugh. He actually dismissed her with a wave off hand gesture.
At the rate these fools are spending one and a half trillion dollars will not last till fall.
The pundits here, the congress on both sides of the isle (not counting the Tea Party Freshman) are blissfully ignorant of their constituents and their readers. The only one that flat out stated the truth was Sarah Palin yesterday with here “Sugar Daddy” comment. Our legislators actually think this is simply a small bump in the road to the “short term” 2012 elections and their equally delusional “long term” incumbency.
Sorry Mr. Babbin I take your warning of “If, then” much the same way as I do a ninth circuit court ruling, an article in the NYT, or a mission statement from an Obama Czar. Your article here, and the hand puppet show of our legislators stands stark testament to the sophistication of the Tea Party Citizenry and your ignorance as to the dire situation we are in.
Here is an “If,then.” for you, forward it to your buddy, "Line in the Sand McConnell"; If they raise the debt ceiling, they will be removed from office.
Teflon93| 7.11.11 @ 9:24AM
Amen---the issue is one of ENFORCING the debt ceiling, not raising it. Enough is enough: cut spending across the board to some degree and cut deeply things the federal government oughtn't be doing in the first place under the 9th and 10th Amendments and get government back to its proper level---that prior to WWII (or even WWI when all this "war socialism" nonsense began). A good start would be returning immediately to 2006 spending levels---the federal government certainly wasn't starved then.
If Democrats love Bill Clinton so much we can return government to 1993 spending levels.
Brian Mc| 7.11.11 @ 9:15AM
We don't need any cuts in spending. What this Republic needs is cuts in whole agencies that disappear from existence and their intertwined bureacracies are taken along with them. As Lincoln once said, "There are too many pigs and not enough teats!"
Siegfried X| 7.11.11 @ 12:32PM
The problem is that even Republicans like George Bush and Mitt Romney add new socialist programs
Old Guy| 7.11.11 @ 9:38AM
Shouldn't someone ask Obama how much revenue would be raised if "rich people" like "little Timmy" just paid the taxes already owed?
Redstateboy| 7.11.11 @ 2:27PM
or Charlie Rangel
howard lohmuller| 7.11.11 @ 9:54AM
It is amazing that so many folks seem to think there is a chance that President Obama, a committed Leftist (Marxist), might suddenly pivot 180 degrees and become a Capitalist. In doing so he would have to admit his financial policies have been wrong from the start. It is more likely Obama is shaking the trick bag, hoping something will fall out. He has already hinted he is aiming for a stimulus 2.
He also wants it to look like the Republicans will have caused the failure to raise the debt limit by refusing to negotiate in good faith and causing a default. This default is not going to happen because the Fed owns 1.6 trillion in T bonds, bought and paid for. The Fed can sell the bonds and Treasury can use the cash to pay bills as they come due, avoiding exceeding the debt limit through the 2012 elections.
Finally the threat to lower the nation's credit rating has come principally from Moodys, one of three major credit rating agencies. Moody's economist, Mark Zandi frequently appears on news and opinion shows and generally follows Democrat talking points. The House oversight committee Chairman Issa should be asked to investigate whether Moody has a special relationship with the Democrats that caused them to slander America's credit rating without justification.
martin j smith| 7.11.11 @ 10:06AM
Where is the Republican News Conference ? This why I get very suspicious of our great leaders like Boehner et al. THEY SHOULD BE OUT THERE TALKING ABOUT THE DISASTER THAT THE SOCIALIST POLICIES IF CONTINUED WILL BRING.
buckeyeman| 7.11.11 @ 1:55PM
There won't be any such news broadcast because the republicans do not believe that socialist policies will bring about disaster.
martin j smith| 7.11.11 @ 10:08AM
If Obama unilaterally raises the debt ceiling, then impeachment should be the order of the day immediately and I think that republican Leaders should threaten this action even before Obama even lifts a finger on it. By the way, in case anyone is confused or misunderstands--we are IN A CIVIL WAR.
Joe D.| 7.11.11 @ 10:19AM
Your article was great. However, I have to disagree with one point. By dumping money into the system, the fed has cause in flation. According to economist this is correct. And look at the prices of food and fuel, etc. over the last year.
JP| 7.11.11 @ 10:25AM
I think people here should realize that the President has brilliantly changed the issues of the debate. And the GOP played right into his hands. What frightens the WH most is a GOP focused on rolling back the discretionary spending increases made since Jan 2009. The savings alone would do more than offset any short term obligations Treasury faces. Discretionary spending has increased more than $300 billion since Jan 2009, and can be found in the added bloat to a whole host of executive departments. The debate should be focused on spending rollbacks to FY 2008. The rollback would also preclude any debt cieling increase (at least in the short term).
Instead, the GOP has been all over the place. Rep Ryan wants to talk reform; Boehnner wants long term cuts. But niether are the immediate issue. President Obama has now thrown in class warefare issues, new tax demands, etc...
I'm pessimistic that the GOP will prevent a continuance of huge defecit spending, or a substantial tax increase. In light of Friday's depressing jobs numbers, the future looks bleak.
Oldefarte| 7.11.11 @ 10:34AM
Let me extend Jed's excellent editorial and remind all Democrats [and all Republicans] that there are less than 16 months until November of 2012. '16', get it? These socialist, radical, welfare providing, drunken-sailor-with-a-stolen-credit-card Democrats need to understand that their days are politically limited, and that the gig is up in November of next year. All Democrats and any Republicans supporting tax hikes of any kind or lacking to support substantial reductions in governmental spending [that we taxpayers PAY FOR] will receive their Weiner Marching Orders out of DC next year, and they can take that to the voting bank. It's over, kaput, finis. No more welfare, no more social legislation for votes, no more illegal immigration for votes, no more homosexual marriage for votes. You liberal politicians have now been exposed for the sleezy scumbags that you are. The taxpayers of this country are fed up with your arrogant demands that we taxpayers [who have and do provide every dime of welfare that provides food, clothing and shelter for indigents through this Democratic government forced charity] give more and more in increased taxiation. We're sick and tired of this 10% unemployment, this deplorable economy, this federal stimulation/governmental payments to state/local governments in order to maintain their unionized employments at twice the salary levels of private employment, etc that is solely due to your managerial incompetence, ineptness and political corruption. We will vote in November of next year for any/all Republicans against Democrats, and thereafter for any RINOS that do no toe the conservative wishes of our demands; so you all had better wake up and slash this governmental spending, not raise our taxes, and start doing your jobs that we sent you to DC to do!!!!!!!!!!!!
Oldefarte| 7.11.11 @ 1:32PM
I've got an 'if-then' proposition for Democrats in DC: IF you don't substantially agree to eliminate/decrease your governmental welfare programs, THEN you will be d-e-f-e-a-t-e-d at your next election!!!!!!!!
C.K. Amos| 7.11.11 @ 11:22AM
Typically, if-then propositions constitute ultimatiums.
With Barack H. Obama and the rest of the Democrat/Progressive/Liberal/Leftist Party, if their lips move, they lie.
The Republicans, conservatives and Tea Party members in Congress best understand this.
Should they not, they--but especially the Republicans--will be voted out of office.
Sarbojit| 7.11.11 @ 11:34AM
Senate Minority Leader Mitch McConnell (R-KY) said on Fox News Sunday,"...the White House and congressional Democrats are insisting on big tax increases as a condition to do anything on the spending side."
He was spot-on, as Reagan learned to his chagrin. Mr McConnell might have gone further and said this is standard Obama duplicity. Look what he told the Israelis - agree to pre-1967 borders up front and the Palestinians will then negogiate all the rest like secure borders, recognition of Israel, no return of refugees etc. Netanyahu told him to stuff it. Cantor and Boehner should do the same.
randyinrocklin| 7.11.11 @ 12:03PM
All this discussion behind closed dorrs MUST STOP!!!!!!!!!!!!!! Boehner grow some balls and shine the light of day on these negotiations!!!!
Just So| 7.11.11 @ 12:26PM
“If, then…” only really works in closed systems, where there exist a limited number of choices.
In politics, though----
The human race, circa 2011, is made up of individuals who have been programmed over all the previous years of phony “if, then” wars. Moment by moment, we each act as receptors of physical sensations AND, being more highly evolved than cats, say, mental ideas, while we simultaneously feel with emotions the whole event---like a finger held up in a windstorm, we try to make sense of it all.
It’s time to join the O.U.T. house!
Being alive inherently means OBSERVING.
Now, most of us have learned to “grow up” and SIMPLY let this happen, as a habitual activity, subconsciously. Only randomly does anyone even for a moment consciously become aware of this.
Well, just as we are somewhat able to see the foolish behavior in OTHERS, we would be wise to turn the same ability back onto ourselves---as we happen to go about our busyness.
Eventually, one should grow to UNDERSTAND what’s happening, what one is choosing---that is, the entirety of one’s arising life is the perfectly logical result of all the acts one DOES. When pinching “your” arm, instead of blaming others, clear observation of this has to evoke true understanding---you are NOT a victim.
TRANSCENDING can happily follow, as well as ceasing to pinch away, of course.
In the “if, then” political dance that is currently all the rage in D.C., isn’t it obvious that there’s a whole lot of PINCHING going on, and not much OBSERVING?
Since the vast wrong majority of Americans, as well as other humans, are definitely NOT even close to being consciously aware of what’s resulting from their OWN choosing, these dark aged and aging days, who can be other than realistically pessimistic about what future choices will be made?
We’re not only aboard the sinking Titanic, after it has hit an iceberg, but the CHOSEN “captains” of this ship of state, better known as America, are even so unconscious that they are, from the inside, making more holes!
Americans are so far from OBSERVING what they are actively choosing, that UNDERSTANDING and TRANSCENDING are remote alternatives, indeed.
This country is eternally on trail, instant by instant, and the preponderance of evidence proves beyond a shadow of doubt her responsibility---guilty as charged!
When 2/3rds of the population is known to be either overweight or obese, ALREADY, the powers of self OBSERVATION are rightly seen to have been thrown under the bus!
Put this rambling take into your “if, then” UNDERSTANDING.
One way or the other, better OR bitter days are coming.
JimmyT| 7.11.11 @ 12:27PM
I wouldn't say the repubs are history in the next election if they cave. BUT, I would say that the repubs that vote to cave, are history in the next primary. They will either do what is good for this country, or, they will get fired. Viable alternatives to RINO's are popping up all over. I hear Ohio has already got theirs waiting in the wings.
cicero| 7.11.11 @ 12:32PM
The Dems are insisting on tax increases in return for the promise of future spending cuts. The Reps are itching to agree to anything that will save them from a fistfigfht.
When this occurred in the 1850's over another issue, the Whigs were dumped, and the Republican Party was born. Within 2 election cycles, the fight was had, and the issue was resolved - to the saving of the nation.
Perhaps, within the next 16 months, a new convention should be called, and a new Party instituted. It could be made up of the truly conservative factions within the country. I suggest that the founding members invite Michele Bachmann, Sarah Palin, Rep. Ryan, and other who may not mind a good dust up.
Louis Jenkins| 7.11.11 @ 1:31PM
The truth is if the Republican leaders even remotely stoop or bow to Obama's will, they are toast. There will be a house cleaning, and the swamp too, that will amaze the most compulsive individual. As stated above- there are 16 months until the next election.
Old Soldier| 7.11.11 @ 1:40PM
If they agree to tax increases, then I will vote against you in the primaries and/or vote for a third party candidate.
Charles Martel| 7.11.11 @ 2:00PM
"If-then"? Here, I'll give you one: if Boehner caves, then no Republican incumbent is safe.
+++
Ground Control| 7.11.11 @ 3:01PM
I agree completely. If Boehner caves, I will never vote Republican again. I already quit the Party and am an "independent" voter, but I usually vote Republican simply because the alternative Democrat is unacceptable.
If the Republican Party wants to continue to exist at all, then they absolutely must adopt this simple strategy: NO Tax Increases! NO New Taxes! NO New Fees! NO increase in the debt limit! NO New Porkulus bills! CUT Spending NOW!!! Make President Bozo and the Democrats vote down tax cuts and spending cuts.
What I can not understand is how ANYONE still gives this idiot-President any credibility whatsoever. This "man" is demonstrably stupid, knows absolutely nothing about economics, and frankly does not even care. He is the most brazenly dishonest person I have ever seen in American Politics, and transparently so. His dishonesty and stupidity are plainly obvious. And yet, he will almost certainly get 40% of the vote next year! The American People screwed our own country at the ballot box by electing not only this Bozo, but every Democrat since Tip O'Neill.
Sherman rides again!| 7.11.11 @ 4:46PM
GC, I did the same thing. Like minds.
Mike D.| 7.11.11 @ 7:11PM
Well, the Marxist says "its time to eat our peas", Uh.... No Marxist, its nearly time for you to "eat your 2012 election loss"
Occam's Tool| 7.11.11 @ 7:52PM
Boehner might cave, but you can check your own Rep with Thomas.
Siegfried X| 7.11.11 @ 4:59PM
Yes, and Obama knows it too. For the Democrats it is this simple: any tax increase is a poison pill which will destroy the Republican Party.
The Dems will tell any lie in order to trick the Republicans. Like Obama offering entitlement cuts that his own party would never pass.
Drunken Sailor| 7.11.11 @ 2:23PM
Boehner needs to turn the tables. Here is a "If-then" scenario he can use.
If spending is cut and a balanced budget amendment is passes now, then in 2016, if the economy has turned around we can see about raising taxes $1 for every $10 dollars cut.
Jim| 7.11.11 @ 10:30PM
My thoughts exactly! I am sicked and tired of capitulating to Democrat rants. No compromises! Cut! Cut! Cut!
George S| 7.11.11 @ 4:32PM
Just exactly who won the the last election and why? You would never know it from the way Republicans are even entertaining these "debt ceiling negotiations" with the party that increased spending by over a trillion dollars and then ran away by not passing a budget! Are these Republicans for real? Tell Obama to put a budget together and then negotiate.
Democrats: they don't pass budgets; they board buses and run and hide to another state. And then they make us figure out a way out of the mess they created and ran away from. While attacking the adults who try to fix things.
Kingofthenet| 7.11.11 @ 5:37PM
minute ago (5:35 PM)
"I am prepared to take on significant heat from my party to get something done," Obama said, contending he has "bent over backward" to work with Republicans.
As I have always said, I don't mind bending over backwards, but NO WAY I am bending over forwards...if you catch my drift...
Mike D.| 7.11.11 @ 7:12PM
Your drift has been caught.
The Estimator | 7.11.11 @ 10:18PM
We don't estimate bending. President Jug Ear must present a budget that can be estimated. He is trying to hide in a smoke filled room and that won't be allowed. The Republican House has a budget proposal. The Senate and President need to do likewise. They need to go on the record with budgets that can be estimated. Take the negotiations into the light of day. Cut spending with no new taxes!
Occam's Tool| 7.11.11 @ 7:53PM
Myself, I'm tired of "Bohica." No more bending.
ED WIlliams| 7.11.11 @ 9:46PM
SPEND!SPEND!SPEND! and increase the size of government. Obamanomics, now scurry to make an eleventh hour deal. What a president! Visit www.bostinks2012.com
somnolence| 7.11.11 @ 10:32PM
Boehner should simply say "I'm going golfing because you didn't even see fit to put Obamacare on the chopping block. Since you believe that is a non-starter, this whole thing is ridiculous, and now I have 18 holes to catch up with."
C-130RopeJumper| 7.11.11 @ 11:05PM
I am a RetVetUSA, and work as a sleever in a software firm in Weaverville, NC; HP, Windows, etc. I make $10 an hour. Two year's ago June 09, you could not get a seat in the break room. The place was packed. Now, there is tumble weed in the wharehouse most of the time. I have grossed just $7,200 just from this job and change since Jan 11, and pay from my USA pension $1, 107 per month in child support. I am scared, man.
Naturalborn Texican| 7.11.11 @ 11:33PM
Our mantra for the next election -
"NOT ONE DIME MORE!"
Great post Tim and many others that backed up and supplemented what Tim so beautifully explained!
WeMustResist| 7.12.11 @ 12:08AM
Obama is fooling the public. The GOP has to tell the truth - that Obama and the Democrats are addicts. They are addicted to public spending, spending other people's money. Jed is right (today) when he says " Obama won't compromise on spending" and Timothy L. Pennell - 7.11.11 7:05 is brave to recall his own addiction.
Raising taxes allows the addiction to go on. Raising the debt ceiling allows the addiction to go on. Those two things must be stopped. Either you stop an addiction or it takes you to Hell. Either the GOP stops the addicts or the USA goes to Hell.
The GOP can convince the public.
Bill Hussein O'Stalin 7.11.11 7:53 has a stunning graph. There are many other graphs the GOP could use. For example there are graphs that show the business sector has a good balance sheet, the household sector balance sheet is ordinary, and the Federal Government's is really bad. That is the Balance Sheet that needs fixing. There are other graphs which make the same point in defferent ways:- it is the US Government that is holding us back - it is the big drag.
C-130RopJumper| 7.12.11 @ 12:41AM
All of POTUS brings back too many bad memorie's. I remember as a older teenager the Jimmy Carter gas lines and high unemployment. It did not affect me because at the time my parents fed and housed me. But, it worried me, neverless. And the fall of the Shah of Iran and the American hostage's in Iran to boot.
POST American| 7.12.11 @ 12:10AM
"Make a REAL revolution for the better
---prohibit USURY---"
WHO said that------------?
Marc Jeric| 7.12.11 @ 1:06AM
The addiction to the money printing press has never been curable; it can only be cured by a bloody revolution. History has proven this dictum over and over, without exception. Except in the Roman Empire times or during the Henry the Eighth times they just replaced gold with silver, and silver with lead.
The only true remedy is to eliminate the entire departments of Agriculture, Labor, Housing and Urban Development, Health and Human Services, to begin with. Then about 150 federal agencies: National Labor Board, Federal Communication Commission, OSHA,...-please add to the list.
POST American| 7.12.11 @ 1:14AM
---Kick the Rockefeller meds and the Rockefeller
Foundation 'dumb down' ---leave the franchise
slums, porno, sports n' wampum 'economy',
and ALLLL the enablers, set up and empathy whores behind.
-----------GET UP ---and at the very least go down
FIGHTING.
C-130RopeJumper| 7.12.11 @ 1:28AM
Roger that. Get you a case of beer for that one, BLUE TEAM. R.L.T.W.! Later folks's'; good take and give; crash time.
Michael Tomlinson| 7.12.11 @ 1:48AM
Instead of raising the debt ceiling why not immediately cut $2 trillion from Obama's obscene spending? That will solve our current problem and set us on the right path for the future. As the British SAS says, "He Who Dares Wins."
Kingofthenet| 7.12.11 @ 11:47AM
Rome wasn't built in a day, neither was our National Debt, and NO WAY in spite of the GOP's delusions will it be fixed in one.
jgo | 7.14.11 @ 1:22PM
The annual federal government deficit is estimated at about $1.75T. So, let's cut federal spending this year by $1.8T. If it works out that the debt can be paid down (reduced from what it is today) by more than $300G by 2012-09-30, then we cut taxes by 0.05%.
How's that for "if-then" budget dealing?
jgo | 7.14.11 @ 1:35PM
"The only true remedy is to eliminate the entire departments of Agriculture, Labor, Housing and Urban Development, Health and Human Services, to begin with. Then about 150 federal agencies: National Labor Board, Federal Communication Commission, OSHA,...-please add to the list."
90% of the Dept. of Educationism (keep the NCES for the constitutional purpose of reporting on the state of the union), cut 60% or 70% of the Dept. of Energy (move the nuclear weapons programs to Defense), NEAH, CPB/NPR, OFHEO, Fannie, Freddie & Sallie, 50% of FTC (since they've violated a legitimate purpose which should be in DoJ, anyway).
Decrease defense personnel, equipment, supplies, etc., over-seas and deploy more (at least 80K) along the US borders.